Titles the act as the North Carolina Bitcoin Reserve and Investment Act and sets out the act’s purpose. Authorizes the Office of the State Treasurer (Treasurer) to allocate up to 10% of public funds into Bitcoin (BTC) as part of the State's long-term financial strategy. Requires Bitcoin acquired with these allocated funds to be placed into a reserve (Bitcoin Reserve). Allows the Treasurer to engage in Bitcoin-backed investment strategies, including staking, lending, and other regulated yield-generating activities.

Requires that the Bitcoin Reserve be managed as a strategic asset in conformity with the following: (1) the Treasurer must ensure Bitcoin in the Bitcoin Reserve is held in cold storage wallets with multi-signature authentication to prevent unauthorized access; (2) the Treasurer must establish a department within the Office of the State Treasurer to have custody of the Bitcoin Reserve in order to ensure management is by a State entity and have direct State control over assets in the Bitcoin Reserve; (3) the Treasurer must establish a Bitcoin Economic Advisory Board made up of industry experts to provide ongoing guidance; and (4) the Treasurer must conduct monthly audits to verify the reserve status, balance, security, and financial performance and must implement State-backed insurance policies to protect the reserve against cyber threats and economic downturns.

Sets out requirements governing the acquisition and purchase of Bitcoin. Requires exploring Bitcoin mining operations as a means of increasing the State's holdings at minimal cost.

Requires that the Bitcoin Reserve be held as a long-term asset and limits its use as follows: (1) the use is (i) required to respond to a severe financial crisis where alternative reserve assets are insufficient, (ii) part of a State-approved investment strategy to enhance the value of the Bitcoin Reserve, (iii) to finance critical infrastructure and economic development projects approved by the NCGA, and (iv) to provide funding for Bitcoin-related research, education, and business incentives to foster economic growth; (2) liquidation of Bitcoin in the Bitcoin Reserve is approved by at least two-thirds of the members of both chambers of the NCGA present and voting; and (3) the use is to back bonds as an alternative financing mechanism for public projects.

Requires the treasurer to comply with all applicable federal and State laws regarding cryptocurrency holdings and taxation. Requires the State to advocate for Bitcoin-friendly regulations at the federal level to protect State Bitcoin reserves.

Requires the Treasurer to report quarterly to the NCGA on the status, value, and performance of the Bitcoin Reserve; require the report to be available on the Treasurer's website.